After Meta (Meta), reported stronger than expected results in the first quarter and provided advice in the second quarter which also beat the average analysts’ estimates, Truist, an American bank, increased its course target to the name at $ 720, compared to $ 700.
Truist has kept a purchase rating on Meta.
Why is Truist optimistic about Meta
Meta’s performance of Meta advertisements have been stimulated by AI, technology increasing conversion rates and prices of technology giant announcements, Truist reported.
In addition, Meta is essential for some advertisers, Truist believes.
Meanwhile, the Meta AI system, Llama 4, allows the company to provide more services and strengthen its electronic commerce offers, Truist reported.
Finally, Truist is impressed by user measures of the company.
An investment bank has increased its course objective on meta
Investment Bank Stifel has increased its price target on the name to $ 655, against $ 628 while retaining a share purchase rating.
According to the investment bank, Llama stimulates the effectiveness of the company’s offers, while it can monetize its AI technology in the longer term.
The recent Meta-Actions price action
During the last month, shares won 8%, while they fell 16% in the last three months.
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Disclosure: None. This article is initially published on Insider Monkey
